Centrally Planned Economy Concepts

Centrally Planned Economy Concepts

Assessment

Interactive Video

Social Studies, Business, History

9th - 10th Grade

Hard

Created by

Patricia Brown

FREE Resource

The video explains a centrally planned economy, where the government controls resource allocation, production, and distribution. It highlights key features such as government control, central planning, limited market mechanisms, state ownership, and income redistribution. Historically, these economies were common in socialist or communist countries during the 20th century.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a centrally planned economy also known as?

Free market economy

Mixed economy

Command economy

Traditional economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who has significant control over resource allocation in a centrally planned economy?

Private enterprises

The government or central authority

Individual consumers

International organizations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a centrally planned economy, who sets the production targets?

Consumer demand

Market forces

The central planning authority

Private companies

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the cornerstone of a centrally planned economy?

Private ownership

Central planning

Market competition

Consumer choice

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are prices typically managed in a centrally planned economy?

Left to private enterprises

Controlled or regulated by the government

Determined by supply and demand

Set by international markets

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sectors are often owned by the state in a centrally planned economy?

Energy and telecommunications

Tourism and hospitality

Retail and agriculture

Education and healthcare

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common policy in centrally planned economies to ensure equitable distribution of resources?

Free trade agreements

Progressive taxation

Deregulation

Privatization

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